Well, who could have possibly thought of a day to come that would bring forward to people the accessibility to use products are services that were reserved only for the customers at the banks?
CommerceBlock, renowned as the first public infrastructure company is taking the necessary step to bring up the platform that fits the ease of the people. There are various facilities that are ensured and those include minimum trade, Token bases on assets, execution conducted for research.
Everything comes with its list of cons
The most important problem arising with the concept is about those millions of people who still have their hopes high with the products and services flourishing financially.
These are soon enough to be centralized and are to be managed with the help of efficient databases. These products and the services are the mostly prior to lots of problems which are risks, the high price, seizure, censorship, and most importantly, failure.
The solutions to the issues
One of the reasons for this innovation to abruptly come in is the arrival of the Bitcoin rule. All the problems get very easily solved by making use of the available tools in the platform.
These tools help to do a lot of things which includes building their own contracts, taking care of the flow of trade, solving up to the disputes happening between the various multiple parties, and much more.
However, the finest advantage comes as the developers will be filling up the terms and conditions of the obligations by making full use of the platform.
The bunch of utilities offered by CommerceBlock
The list contains numerous features but the ones that steal the show are as follows.
The very first offering that has been organized holds up the pay to contract rule implementation strictly and thoroughly.
The only reason for the implementation of the rule is to imitate the process of the payments that are happening in the real world. Therefore, it is to implement a Xerox of the same as well as bringing up the relation between the merchants and the customers.
With the help of the protocol, the exchanges between the customers and buyers are recorded as a cryptographic proof, keeping in mind the security and the knowledge about who is paid with what.
Risks
Every story depicts two sides of the picture; CommerceBlock follows the same policy throughout. There are certain risks that are associated with the products and services.
For starters, a company which follows the concept of infrastructure is the main reason for it to fall off the cliff. This is because, if there is any malfunction occurring in the process as there is a chance that data is lost somehow, most of the services are likely to go down then.
Another issue that comes forth is Privacy. As it is well known that payments that are made on blockchains are deprived of privacy and the process is too transparent for one to see through it.
The list ends with Scaling as the last thing in the process when it comes to building up an application in the public blockchain.
The Final Words
The story of CommerceBlock has taken it to where it is today. The commendable team and the hard worked roadmap says it all.
Nobody is capable of guaranteeing success. However, all the necessary steps that are required for the phenomenon are to be put forward for the best to come up from the world of CommerceBlock.
Visit: https://www.commerceblock.com/
Written By: Kishan748
